Bitcoin Spot ETF Records $238M Net Inflow as FBTC Leads

Bitcoin spot ETFs make a decisive recovery on November 21 six days after a streak of massive outflows estimated at over 2.1 billion. According to Fresh SoSoValue data, there was a sharp turnaround to 238 million net inflows in all issuers. This change comes immediately after a huge outflow of 903 million, the second-poorest dump of ETFs in history.

FBTC of Fidelity Leads

The FBTC ETF offered by Fidelity is the leader in the market with a forceful inflow of 108.02 million dollars. This inflow represents almost half of the actual inflow of the day. The institutional purchasers still switch back to the low-priced offerings in the high-volatility markets, which strengthens the leadership of FBTC.

Close on the heels of it is the Grayscale Bitcoin Mini Trust which has an amazing 84.93 million inflow. The 0.15% fee is low to appeal to cost-sensitive traders who are running away to legacy GBTC to sell. The cumulative inflow of the fund is currently at 2.15 billion and its asset under management is approximately 3.2 billion.

GBTC Proceeds with Relentless Outflow

Another bad day that befalls the original Grayscale GBTC is that it records an outflow of about 45 million. Regardless of the substantial redemptions, GBTC has over 20 billion assets and is one of the biggest Bitcoin ETFs in the globe. November 21 records major positive inflows on most major ETFs. At blackrock, IBIT will contribute an approximate of $15 million. ARKB Shares ARK 21 generates approximately 10M. Close to $8 million is added by Bitwise BITB. VanEck HODL, Galaxy BTCO, WisdomTree BTCW, Franklin EZBC, and Valkyrie BRRR also add millions of thousands to the total flow with a contribution of between 1,000,000 and 5,000,000. The numbers form a harmonized purchasing trend which interrupts the selling pattern of the week.

Bitcoin ETF Assets Become Stable at $110 Billion

Total Bitcoin ETF assets are steadily around 110.1 billion after losing over 15 billion in the initial November correction. The total quantity of BTC held by ETFs amounts to over 1.05 million, which is close to half of the total supply of Bitcoin. The trading volume is up to $4.5 billion in the day, which is more than 25% higher than in the previous session.

The ETF flow chart of SoSoValue on November 20, 2013, shows a huge red candle and a powerful green bar on November 20 and 21 respectively. This trend more frequently indicates capitulation and then accumulation. Then the inflow on November 21 swallows almost half the outflow the day before, which is an early indicator of the bottom in ETF markets.

On the same day, Bitcoin goes around at 84,521 less than weekly highs of approximately 90K. The long-term chart demonstrates that the price direction and ETF flows are correlated by 80 percent and higher. Historically, institutional buying follows price recovery in short term, particularly in the oversold periods. Recovery of inflows is usually an indication of revived confidence by long-horizon investors.

Broader Analysis

Fresh inflows cannot stop November as the worst month of the year of Bitcoin ETFs since its launch in January 2024. Most funds still have large price volatility with the unwinding of leveraged risk-off positions by institutions. Actionable Bitcoin ETFs continue to have a net inflows of over $57 billion YTD with severe volatility despite having a general market dominance as the largest category of crypto ETFs worldwide. Bitcoin ETF AUM still stands fivefold in comparison to Ethereum ETFs, and nearly tenfold when compared to future altcoin ETF products such as Solana and XRP.

Spot ETFs Bitcoins close a six-day streak of brutal outflow with a strong inflow of $238 million November 21. As the overall ETF assets calm above 110 billion and the institutions move back to the low-cost products, the Bitcoin ETF markets may be about to face another momentum change after weeks of rampant selling.